Reference no: EM133137690 , Length: word count:3000

SG7003 Business Simulation with Professional Development - University of East London

Knowledge
1. Explain the theory and practice of businesses
2. Describe a range of current problems and changes that organizations face in being successful

Thinking skills
3. Critically evaluate research and theory to support decision-making and explain progress
4. Analyse complex issues, make reasoned judgments with incomplete data, and communicate conclusions clearly to specialist and non-specialist audiences

Subject-based practical skills
5. Students will discuss good practice for organization success
6. Undertake a critical audit of skills and capabilities for a professional career and identify areas required for improvement

Skills for life and work (general skills)
7. Developing and communicating critical evaluations of organization progress
8. Working effectively in teams

Assignment overview

The individual assignment - to be submitted as one report - is comprised of two parts: A and B. Part A is the simulation evaluation. This focuses on evaluating your company in the simulation. Part B is the professional development reflection.

Part A: Individual simulation evaluation (Business simulation
You have been managing your company in the business simulation activity for the least five years (five years = five weeks of the business simulation). You are now reviewing and presenting your future plans for the company based on your annual business plans (for each simulation week) and performance in the simulation. You are required to evaluate the success of your decisions and make recommendations for future company plans.

Element
1. Executive Summary
Remember this is an overview of: the most important decisions you made; the actual results you got; the most important decisions you have made about your future strategy
2. Describe the simulation company Vision and Strategy over the simulation
e.g. vision, values, mission, HR
This section is to be based on your Group business plan. Please use your own words to describe your company's Vision and Strategy (do not ‘copy and paste' your group business plan)
3. What you did
Performance review: competition analysis (Market choice/share; competitors; internal capabilities). Also talk about the most important decisions you made each week and the targets you set each week.
4. What the outcome was
Explain simulation performance results: Position, KPIs, Financial performance

Performance review: Performance analysis: analyse performance (evaluate decisions taken in each area - Strategy/ Marketing / HR/ Logistics / Finance / Product development / Responses to World events etc linking to simulation results)
Marks will be awarded for how well you explain the connection between the decisions you made and the results you achieved (regardless of whether the outcome of your decisions were positive or negative in a business sense)

1. Future Company Strategy
Develop future company plans and recommendations including:
1. Define key decisions for next 5 years
2. identify any changes to current strategy and how to achieve those changes
3. Set out recommendations - based on your review of company performance,
4. Explain areas for potential growth
NB - You must show evidence of research into the real MOBILE PHONE industry in this section to support your proposals as well as evidence from your simulation
5. Additional Criteria
Structure and writing (Grammar, argument, clarity, use of business theory to support arguments)

Further details:

Performance review:
• Assess the success of the strategy or strategies compared to industry conditions and competitors in the simulation.
• Analyse company performance e.g. comparing actual performance with targets in your Business Plan, financial data analysis, decision analysis and justification of performance measures and strategy, application of business scorecard etc.

Performance analysis further details:
• Explain why business plan achieved/ missed, why performance changed
• Explain differences from competitors/ industry (in simulation)
• Explain any changes made to business plan and company, why, any impact.

Part B: Individual reflective report (Professional development)

Your annual Performance Development Review is approaching. You are keen to reflect on how working in this team compares to what you have learnt on your MBA course and your understanding of how companies perform in the mobile phone industry. You are required to prepare a report that covers research into one or two events from your simulation team looking at group dynamics, how decisions were made, leadership analysis, and implications for your individual professional development.

This should cover:
• Report summary
• Introduction and Identified events 10%
• Application of theory and practice to identified events 15%
- Use theory to make sense of the two events - what happened, how, why
- Brief review of applied theories / concepts/ industry practices - how relevant and valid are they to your events
• Discussion and recommendations 10%
- Review and explain your individual professional development
- Recommendations to improve your practice and areas for you to research to improve your development
• Structure and writing (Grammar, argument, report summary) 5%
• Appendix (incl. individual reflection logs for each year in the simulation) 10%

An example of an identified event (not to be used in your assessment):
• Your team is virtual and has had mixed performance throughout the simulation activity. It feels like it has been a very iterative process in getting people and building the team. Communication has been hard with individuals having different levels of access to technology (i.e. intermittent internet, using mobile phones instead of computers), and some members have engaged little with other team members. This has meant redistributing work and recognising what each member is likely to complete.

Attachment:- Business Simulation.rar